08/29 – ETF Trading – SPY, SH, SDS

We’re shorting SPY in this current trading session. You could also trade the inverse etfs – SH and/or SDS.

We have one trading position in our basket. SPY closed higher on Friday (SH & SDS lower), but not enough to trigger taking a second trading position. Updated charts are posted below.

For this trade, we’ll scale in with up to 3 positions. Take a second trading position should SPY close higher today than our entry price (SH and SDS would close lower).

Following our inverse etfs, our exit signals for SH are triggered when the closing price for SH is higher than it’s 5 day moving average, or – for a potentially larger gain – when the RSI 2 is greater than 70. Trade SDS similarly.

Learn why the S&P 500 index is now a good short etf trading opportunity in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.

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